Summit County – Year End 2018
Summit County (Breckenridge, Copper Mountain, Keystone, Frisco, Dillon, Silverthorne, etc.) offers an unparalleled quality of life with ample year-round activities, a community feel, and breathtaking mountain vistas at every turn. Ideally located on the western side of the Continental Divide and less than a two-hour drive from Denver, Summit County attracts buyers from around the world. Comparing the market results of 2018 to 2017 shows a rise in competition with average price increasing by 7%, yet listings sold decreasing slightly by 5.4%. In addition, total dollar volume sold increased by 1.1%. These three metrics prove that 2018 was a healthy market as buyers were willing to pay more and less properties were available for purchase – a very positive trend for sellers. Potential buyers also saw major benefits as average days on market increased, allowing buyers more time to make home purchasing decisions.
Highlights from Summit County include an impressive increase of 30.4% in average price for all properties in Dillon/Summit Cove, increasing from $425,769 in 2017 to $555,036 in 2018. While single family homes and condos, townhomes and duplexes showed an increase in average price – condos, townhomes and duplexes in Dillon/Summit Cove saw the largest increase for the area of 30.7%.
Copper Mountain presented extraordinary results, especially for single family homes, with a 56.9% increase in average price, from $2,231,250 in 2017 to $3,500,000 in 2018. In addition, average days on market decreased a notable 22.1% to 325 days for single family homes. Including all property types, Copper Mountain saw a 17.7% increase in average price and a 44.4% decrease in average days on market, to a noteworthy 70 days in 2018.
Breckenridge/Blue River, Frisco, Keystone, and Silverthorne/Wildernest areas presented positive results with increases in average price. Frisco reported a 19.3% increase in average price, landing at $782,105 in 2018. All areas also showed a decrease in days on market for single family homes, with Keystone reporting the most dramatic dip of 56.2% to only 99 days in 2018.
As a popular market, Summit County continues to attract buyers who are looking for the desired Colorado mountains lifestyle, without being too far from Denver. Many second-home owners within Summit County come from the Front Range because of this close proximity.
This Colorado Micro Market Report includes Real Estate data statistics for the following neighborhoods (single family, unless otherwise indicated):
Breckenridge, Copper Mountain, Dillon, Frisco, Keystone, and Silverthorne.